Quote:
Originally posted by RealFX
When I first looked at trading, man did seem like being right was what it was all about. But now it seems like consistency and flawless execution mean just as much, if not more, than being "right".
I guess the point of all this is that maybe the old saying of "forest for the trees" can apply to trading.
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They're two main reasons why 90% lose! The majority believe predicting direction is the most important part of trading. Those who survive the inevitable drawdown go on to realise, eventually, that money management, minimising risk, and maximising gain are what really matters in this business.
Also, like you say, some can't see the obvious through the myriad of indicators on their charts.
There was a trader on here once who laughed at the idea that money management was as important as deciding direction, seems he changed his mind
Mick